Kraken Expands in Europe with Dutch License

Kraken has obtained a license in the Netherlands, allowing it to operate in the country as a virtual asset service provider (VASP).

Kraken has obtained the provider license as part of its strategy to increase its presence throughout Europe. After acquiring Dutch cryptocurrency broker BCM in October of last year, Kraken is now poised to expand in the Dutch market thanks to a virtual asset service provider (VASP) registration from the Dutch Central Bank.

The Dutch Blockchain Days to host blockchain, crypto, NFTs, and web3 event “With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate,” said Brian Gahan, Kraken’s Managing Director of Europe.

“We see a lot of opportunity to introduce our offering to retail clients and professional traders in the Netherlands and across Europe.”

With almost 20% of the population holding cryptocurrencies, the Netherlands presents a promising market for Kraken. Kraken made this move in order to take advantage of the strong fintech adoption rates in Europe.

The U.S. Securities and Exchange Commission is suing Kraken for purportedly operating without the required registration, although Kraken has insisted that the action does not affect its day-to-day operations.